The London Stock Exchange is expected to open higher on Tuesday despite the United States and Iran hinting at armed conflict as the countdown to the ceasefire deadline looms. Uncertainties surrounding negotiations, which President Trump announced would resume in Pakistan, continue.
However, the clerical government of Tehran has refused to confirm participation and accused the US of violating the truce by blockading Iranian ports and seizing a ship.
IG reports that futures contracts indicate the FTSE 100 is set to open 16.2 points higher, or 0.2%, on Tuesday. The London blue-chip index closed down 0.6% at 10,609.08 points on Monday.
The Brent crude oil price was trading at $94.36 a barrel on Tuesday, slightly lower from the $94.45 on Monday evening.
The British pound was exchanging at $1.3518 on Tuesday, compared to $1.3535 at Monday’s London market close. Against the euro, the pound weakened to 1.1477 EUR from 1.1486 EUR the previous day.
The euro was at 1.1780 USD on Tuesday, down from 1.1786 USD Monday night. Against the yen, the dollar rose to 158.89 JPY from 158.58 JPY.
In the US on Monday, Wall Street closed lower with Dow Jones Industrial Average losing 4.87 points, the S&P 500 dropping by 0.2%, and the Nasdaq Composite by 0.3%.
In Asia on Tuesday, Tokyo’s Nikkei 225 index rose by 1.2%. In China, the Shanghai Composite gained 0.23 points, while Hong Kong’s Hang Seng index increased by 0.5%. Sydney’s S&P/ASX 200 closed down by 0.1%.
Gold was trading at $4,786.89 per ounce on Tuesday, lower than $4,806.14 on Monday.
On the corporate front, Tuesday’s calendar includes Associated British Foods’ half-year results and Rio Tinto’s activity update.
Economically, the UK will release unemployment data, while the eurozone will unveil the ZEW economic sentiment survey.
By Emma Curzon, Alliance News journalist
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